Beam Suntory Set to Focus Portfolio on Strategic Priorities
Beam Suntory Set to Focus Portfolio on Strategic Priorities
Company enters into a binding agreement related to proposed sale of Courvoisier brand to Campari Group
NEW YORK, Dec. 14, 2023 – Beam Suntory, a world leader in premium spirits, announced today that it has entered into an exclusive agreement related to the proposed sale of the Courvoisier cognac brand and related assets to Campari Group. The sale would be Beam Suntory’s latest step in transforming the company in service of its long-term ambition to become the World’s Most Admired Premium Spirits Company.
“We are proud to have nurtured the iconic Courvoisier brand for nearly 20 years, investing in its growth across key global markets and transforming it into a symbol of modern luxury and an industry leader in awards and sustainability,” said Greg Hughes, President and CEO of Beam Suntory. “The brand is very well positioned for its next chapter of growth, and we are confident that Campari would be the right partner to take Courvoisier into the future. This move would allow us to further focus our portfolio on our core areas of strength as we accelerate our global growth ambitions.”
“As part of our company, Courvoisier has reached new heights, growing successfully in key global markets, most notably in the US, China, the UK, Global Travel Retail and South Africa,” Hughes continued. “Courvoisier has become the Most Awarded Cognac house based on the top 20 spirits competitions since 2019, and this year it became the first and only Cognac house to be awarded the Butterfly Mark Certification, a coveted recognition amongst luxury brands for rigorous standards in sustainability, social practices and governance.”
Under the terms of the agreement, Campari Group would assume full ownership of Courvoisier, including properties and operations in Jarnac, France, intellectual property, maturing inventory and case finished goods, and would distill, age and bottle Courvoisier. Pending employee consultations, and other regulatory approvals, the transaction is expected to close in 2024, subject to customary closing conditions.
About Beam Suntory
As a world leader in premium spirits, Beam Suntory inspires the brilliance of life by delivering great consumer experiences through its world-class portfolio of brands. Known for its craftsmanship of premium whiskies, including Jim Beam®, Maker's Mark®, Basil Hayden® and Knob Creek® bourbons; Japanese whiskies, including Yamazaki®, Hakushu®, Hibiki® and Toki™; and leading Scotch brands including Teacher's, Laphroaig® and Bowmore®, Beam Suntory also produces leading brands such as Courvoisier® cognac, Tres Generaciones®, El Tesoro® and Hornitos® tequila, Roku™ and Sipsmith® gin, Canadian Club® whisky, and is a world leader in ready-to-drink cocktails, with brands like -196 and On The Rocks™ Premium Cocktails.
A global company with approximately 6,000 employees in more than 30 countries, one of Beam Suntory's core values is Growing for Good and through its Proof Positive sustainability strategy, the company has committed to ambitious goals and investments to promote environmental sustainability in its operations, ensure the company has a positive impact on the communities where employees live and work, and programs to educate and inform consumers to make the right personal choices about drinking. Headquartered in New York City, Beam Suntory is a subsidiary of Suntory Holdings Limited of Japan.
For more information on Beam Suntory, its brands, and its commitment to social responsibility, please visit https://www.beamsuntory.com/ and https://www.drinksmart.com/ .